Real Estate Term of the Day: Housing Affordability Index

HOUSING AFFORDABILITY INDEX – a statistical indicator of the ability of households in an area to purchase housing at prevailing prices with currently available financing. Most commonly used indexes compare the amount of income of the typical household in an area to the required monthly payment of the typical house in the area (Barron’s Dictionary of Real Estate Terms)

The National Association of REALTORS® Housing Affordability Index through 2014, shows that Denver-Aurora, CO MSA falls below the housing affordability for the US, but is fairly inline with the housing affordability for the region. Meaning compared to the United States, Denver, CO is less affordable compared to other cities.

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ABOUT LESLIE MONACO

Leslie Monaco, a born and raised Denver native, has been involved in the real estate industry since 2001 and has helped hundreds of clients call Denver their home. Real estate is her passion and that passion reflects on her sincerity in helping clients achieve their real estate goals and needs. Clients that work with Leslie are provided with first class service from the start, throughout their real estate process and beyond the closing. This is evidenced by her being recognized as a 5280 Five Star Real Estate Agent based on customer satisfaction for the past four years. Leslie is a part of a top producing team with The Kentwood Company who consistently sell over $20,000,000 in Metro Denver real estate each year.